The real estate market has been through a rollercoaster of interest rate changes in recent years. Understanding these shifts—and what they mean for you—can give you a real edge whether you’re buying or selling a home.
With the prices in the residential market calming down in the major capitals and most regional areas how do you sell in an easing market? How do you still get top dollar? Or do you sit and wait?
Getting finance approvals has become more of a challenge and banks are now scrutinising people’s spending patterns etc with a fine tooth comb. Make sure your pre-approvals are in place before making any offers as the time taken to get approvals have blown out considerably compared to last year.
Nationwide measures of housing prices are little changed over the past six months. Conditions in the Sydney and Melbourne housing markets have eased, with prices declining in both markets. Housing credit growth has declined, with investor demand having slowed noticeably.
How does the RBA interest rate affect you and your property value. We constantly read and hear about the RBA’s interest rate and how it will affect the economy, but how many of us know what it is?